Hexagon (OTCMKTS:HXGBY) Shares Up 11.6% After Earnings Beat

Shares of Hexagon AB Unsponsored ADR (OTCMKTS:HXGBY) were up 11.6% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $9.82 and last traded at $9.82. 13,312 shares traded hands during trading, a decline of 98% from the average session volume of 644,641 shares. The stock had previously closed at $8.80.

The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Hexagon had a net margin of 40.44% and a return on equity of 9.74%.

Wall Street Analysts Forecast Growth

HXGBY has been the topic of several analyst reports. Barclays cut shares of Hexagon from a “hold” rating to an “underweight” rating in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Hexagon in a report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hexagon currently has an average rating of “Hold”.

Hexagon Price Performance

The firm has a market cap of $26.28 billion, a P/E ratio of 11.25 and a beta of 1.44. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $9.25 and its two-hundred day moving average is $10.20.

About Hexagon

Hexagon AB (publ) is a Sweden-based global provider of digital reality solutions, combining sensor, software and autonomous technologies. The company develops measurement instruments, software and data analytics platforms that enable customers to capture, process and visualize information about physical assets, infrastructure and environments. Hexagon’s offerings are designed to improve productivity and quality in sectors such as manufacturing, construction, surveying, agriculture, mining, public safety and utilities.

The company’s hardware portfolio includes positioning and dimensioning sensors, laser scanners, GNSS receivers and total stations used for surveying and geospatial data acquisition.